Pavna Industries share price jumped 15% on Tuesday, snapping a three-day losing streak, amid high buying volumes. Despite weak sentiment in the Indian stock market today, the small-cap stock rallied as much as 14.98% to ₹42.50 apiece on the BSE.
Pavna Industries share price rally today was supported by robust volumes. Around 10 lakh equity shares of Pavna Industries changed hands on stock exchanges on September 23, significantly higher than its one month average trading volume of 3 lakh shares.
Pavna Industries is a manufacturer of high-quality automotive components for a wide range of vehicles, including passenger cars, two-wheelers and commercial vehicles. It supplies parts like ignition switches and fuel tank caps to major OEMs such as Bajaj Auto, Honda and TVS Motor Company.
The small-cap stock recently underwent subdivision as the company concluded its stock split.
Pavna Industries stock split record date was September 1. The company had announced a stock split in the ratio of 1:10, which means investors would get 10 equity shares for every one share held.
Recently, Pavna Industries announced signing a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up an auto-components manufacturing facility at the Future Mobility Park in Shoolagiri, Krishnagiri District, Tamil Nadu
As part of the MoU, the Government of Tamil Nadu has assured its full support and facilitation for the timely and effective execution of the project. The proposed facility will further enhance Pavna Industries’ manufacturing footprint, strengthen its position in the automotive ecosystem, and contribute to the state’s vision of advancing as a hub for future mobility solutions, Pavna Industries said in a release on September 17.
Pavna Industries Share Price Performance
Pavna Industries share price fell 7% in one month and gained 10% in six months. The smallcap stock has declined 20% in one year, but has delivered multibagger returns of 103% in three years.
At 1:50 PM, Pavna Industries share price was trading 10.93% higher at ₹apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
